Canada offering more than C$13 billion for VW battery plant: Government source

OTTAWA: Canada has agreed to provide up to C$13 billion in subsidies and a C$700 million grant to lure Volkswagen AG into building its North American battery plant in the country, a government source said on Thursday.

The carmaker declined to comment on the subsidies, which the source said would be disbursed over a decade. The plant will cost about C$7 billion to build, the source told Reuters, confirming an earlier report by Bloomberg News. The new Volkswagen battery plant in Canada will have a maximum capacity of 90 gigawatt hours, enough to provide batteries for more than a million cars annually, Handelsblatt reported, citing a company source familiar with the matter.

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Canada offering more than C$13 billion for VW battery plant - govt sourceOTTAWA :Canada has agreed to provide up to C$13 billion ($9.7 billion) in subsidies and a C$700 million grant to lure Volkswagen AG into building its North American battery plant in the country, a government source said on Thursday. The total Canadian investment, which could also include funds from the Ontari
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